Cloud Computing Around the World: Greece

Currently, Greece’s government is placing a lot of administrative burden on the country’s economy, affecting the local entrepreneurs’ ability to cut costs and increase value of their products and services. The onus of improvement is on the shoulders of both the State and the companies, in order to ensure that a new model of development is born, where private investment and export are the key growth drivers.

Cloud computing is poised to be the catalyst for this new model, and a new survey by the Business Software Alliance supports this – with their survey revealing that use of cloud computing is highest in Greece and Romania within EU, with Greece garnering a 39%. Additionally, over 24% of personal computer users in Greece report high levels of familiarity with cloud computing technology. Additionally, a recent report by the IOBE posits that early adoption of cloud technology will play a crucial role in the competitiveness of the Greek economy.

Cloud Computing will provide a much needed reduction in IT spending, boost productivity, and create new opportunities for business development in the country.

Under baseline assumptions of early adoption, Greek businesses and the public sector can save almost € 5 billion in expenditures.

The overall cloud dividend over the next decade can reach € 16 billion, especially when combined with the spill-over effects from increases in the intermediate demand and household income.

Cloud computing adoption will bring an increase in scalability and a reduction of barriers to entry, and will add € 5 billion of income to the Greek economy within the next decade.

Speed of adoption is important. The cloud dividend can reach € 21 billion if Greece manages to outpace their competitors via a 5 year transition path (compared to the average 10 year transition path followed by competing nations). However, if technophobia prevails and slows down the rate of adoption, the cloud dividend will only extend to about € 5 billion and will show very little or no employment gains during the next 6 to 7 years.